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Rating

9Overall

10
Applicability

10
Innovation

9
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Recommendation

In the wake of the Enron bankruptcy, there has been plenty of teeth-gnashing about what went wrong, but far too little analysis of what we can do to make things better. Samuel A. DiPiazza, Jr., CEO of PricewaterhouseCoopers, and Robert G. Eccles, a PwC fellow and former Harvard Business School Professor, take a brave stab at addressing the fundamental shortfalls in the process through which companies report their performance. By proposing a new vision of corporate transparency, the authors take an important first step in reforming the corporate reporting system and restoring investor confidence. getAbstract.com highly recommends this book to any readers wondering where the financial community should go from here.

In this summary, you will learn

Why investors have lost confidence in the corporations, regulators, accountants and analysts who produce and guarantee the soundness of corporate information;

How the process through which companies report performance can be made more transparent, and

How the development of a spirit of transparency and a culture of a accountability can restore investor confidence in corporate information.

About the Authors

Samuel A. DiPiazza, Jr. is the CEO of PricewaterhouseCoopers, the world’s largest professional services organization. Mr. DiPiazza joined PricewaterhouseCoopers in 1973 and most recently served as Senior Partner and Chairman of the U.S. firm with executive responsibility for U.S. operations. Robert G. Eccles is a founder and president of Advisory Capital Partners, Inc. (ACP), and a Senior Fellow of PricewaterhouseCoopers. Prior to founding ACP, Dr. Eccles was a full professor at Harvard Business School, where he was a faculty member for 14 years, receiving tenure in 1989.

Summary

The Future of Corporate Reporting Information is the lifeblood of the capital markets. Investors risk their hard-earned capital in the markets, and they rely on information they receive from companies in making their investment decisions. They need reliable information on a timely basis...